NNPC Profit Crashes 71% to ₦216bn in Six Months Amid Output Drop and Strike Disruptions

Story: written by Uzuh Rita October 22,2025
The Nigerian National Petroleum Company (NNPC) Limited has reported a sharp fall in profit, with its Profit After Tax (PAT) plunging to ₦216 billion in September 2025 — a 71% decline from ₦748 billion recorded in April of the same year.

According to NNPC’s latest financial summary, the state-owned oil firm’s profit has experienced a steady downturn over the past six months, signaling rising operational challenges and growing instability in Nigeria’s oil sector.

In April, NNPC reported ₦748 billion in profit, which rose briefly to ₦1.05 trillion in May before dropping to ₦905 billion in June. The downward trend continued through July and August, with the September figure showing one of the weakest performances so far this year.

The company attributed part of the decline to lower crude oil output during September, following a three-day strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Group Chief Executive Officer (GCEO) Bayo Ojulari confirmed that Nigeria lost about 200,000 barrels of crude oil per day due to the strike, resulting in over 600,000 barrels in deferred production. He noted that the industrial action also affected gas supply and power generation, leading to an estimated 1.2 megawatts of lost power output.

“It was unfortunate that the Dangote and PENGASSAN dispute led to industrial action. When key technical staff are absent, optimal production becomes impossible,” Ojulari said.

Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) supports this, showing that crude production dropped to 1.39 million barrels per day (bpd) in September from 1.43 million bpd in August 2025.

The company’s total revenue for September also declined to ₦4.27 trillion, down from ₦4.65 trillion in August. NNPC clarified that these figures include intercompany transactions and are subject to reconciliation with relevant agencies.

The report added that output was affected not only by the strike but also by scheduled maintenance at the Nigeria LNG (NLNG) plant and delays in the restart of operations at key oil blocks, including OMLs 71 and 72.

The latest figures highlight NNPC’s growing financial strain despite recent reforms and underscore the persistent challenges of maintaining steady oil production amid industrial disruptions, weak infrastructure, and fluctuating global market conditions.